Unlike most millennials, Norway's are rich • Hacker News Board

Re: Unlike most millennials, Norway's are rich

#31

Post by adoctor » Sat, Jul 14, 2018, 9:07 AM UTC

dumb2223 wrote: post #21

franciscop wrote: post #15

As a Spaniard who has discussed this in lenght with many other Europeans[1], it really seems like the US is the main country with the University debt issue. I also really believe that "score inflation" is a big issue mainly in the US. If everyone can finish University, then having a university title becomes pointless! [2] In Spain, Germany, France, Italy, etc if you get a degree in STEM it means you put a lot of effo…

As another Spaniard I agree with you. But degrees about tourism can get you a job here. As I am learning English, I would suggest: Use "at length",don't repeat finish so many times, finish (complete, get, achieve) a degree, become pointless (become less valuable, worthless), which (that) is what I now best. About grade inflation in the US: http://www.gradeinflation.com/ , https://blog.prepscholar.com/average-college-…

As a non-native English speaker, these suggestions are very bad.

Every single one of them, if implemented, would make the original post worse and the phrasing more awkward.

I may be wrong in this (I'm not a native speaker after all), but at least take it into account as an counterpoint of the above...

Re: Unlike most millennials, Norway's are rich

#32

Post by bufferoverflow » Sat, Jul 14, 2018, 9:09 AM UTC

Norway is a very special case. A small country with lots of oil, fish, and a small population (just 5.2 million).

They would have to go really wrong to be poor.

Re: Unlike most millennials, Norway's are rich

#33

Post by andai » Sat, Jul 14, 2018, 9:09 AM UTC

Latty wrote: post #26

franciscop wrote: post #15

As a Spaniard who has discussed this in lenght with many other Europeans[1], it really seems like the US is the main country with the University debt issue. I also really believe that "score inflation" is a big issue mainly in the US. If everyone can finish University, then having a university title becomes pointless! [2] In Spain, Germany, France, Italy, etc if you get a degree in STEM it means you put a lot of effo…

> If everyone can finish University, then having a university title becomes pointless! Only if the value of a degree is having an edge over others, not if it's value is learning - primary school isn't pointless even though most people master it. This feels like it links back to the same problem as everything else - as time goes on automation removes less skilled jobs, and more and more people will need to do more ski…

The biggest obstacles to UBI aren't economic, they're cultural. I'm currently working in manual labor as I brush up on front end, and it's devastating to me that my current job and almost all jobs available to me can and will be automated. What happens then, with the majority of people who aren't suited for STEM?

Re: Unlike most millennials, Norway's are rich

#34

Post by franciscop » Sat, Jul 14, 2018, 9:10 AM UTC

Latty wrote: post #26

franciscop wrote: post #15

As a Spaniard who has discussed this in lenght with many other Europeans[1], it really seems like the US is the main country with the University debt issue. I also really believe that "score inflation" is a big issue mainly in the US. If everyone can finish University, then having a university title becomes pointless! [2] In Spain, Germany, France, Italy, etc if you get a degree in STEM it means you put a lot of effo…

> If everyone can finish University, then having a university title becomes pointless! Only if the value of a degree is having an edge over others, not if it's value is learning - primary school isn't pointless even though most people master it. This feels like it links back to the same problem as everything else - as time goes on automation removes less skilled jobs, and more and more people will need to do more ski…

Sorry if I wasn't clear, I'm not talking about zero-sum (which should be similar everywhere), I'm talking about Universities becoming easier in USA much faster than in Europe. Example:

https://www.theatlantic.com/education/archive/2015/01/same-p...

Re: Unlike most millennials, Norway's are rich

#35

Post by franciscop » Sat, Jul 14, 2018, 9:12 AM UTC

im3w1l wrote: post #20

franciscop wrote: post #15

As a Spaniard who has discussed this in lenght with many other Europeans[1], it really seems like the US is the main country with the University debt issue. I also really believe that "score inflation" is a big issue mainly in the US. If everyone can finish University, then having a university title becomes pointless! [2] In Spain, Germany, France, Italy, etc if you get a degree in STEM it means you put a lot of effo…

> If everyone can finish University, then having a university title becomes pointless! I mean ideally, degrees shouldn't just be a zero sum game. Ideally, it should mean everyone is better off.

Yup. What I meant is that degrees now are becoming easier (thus, losing value) faster in the USA than in Europe. Example: https://www.theatlantic.com/education/archive/2015/01/same-p...

Re: Unlike most millennials, Norway's are rich

#36

Post by marvin » Sat, Jul 14, 2018, 9:14 AM UTC

mockingbirdy wrote: post #22

I'm seriously impressed: See the national debt of Norway (34.33% of GDP) - this is insanely low for developed countries. For comparison: US - 107.40%, Germany - 61.51% https://www.nationaldebtclocks.org/debtclock/norway https://www.nationaldebtclocks.org/debtclock/unitedstates https://www.nationaldebtclocks.org/debtclock/germany - - - Another important measurement is the Gini coefficient [1] which shows us if the wea…

Did your sources distinguish Norway's Gini coefficient before and after taxes?

My impression is that marginal taxation here is massive, since we have a sales tax of 25% (consumption tax, effectively), high taxes on luxury goods (cars especially), wealth tax of 0.85% of net worth every year and capital gains tax of 30% with no exemption for long-term holdings. The marginal tax rate on income is 46% IIRC, but your employer has already paid 14% of your salary in employment tax before you're paid. On top of this is property taxes, fees to local government, annual car tax etc.

If you make a complete assessment of the taxes a high-earning, high-spending person pays, it can easily surpass 70% of all income.

Re: Unlike most millennials, Norway's are rich

#37

Post by franciscop » Sat, Jul 14, 2018, 9:15 AM UTC

DeepYogurt wrote: post #28

franciscop wrote: post #15

As a Spaniard who has discussed this in lenght with many other Europeans[1], it really seems like the US is the main country with the University debt issue. I also really believe that "score inflation" is a big issue mainly in the US. If everyone can finish University, then having a university title becomes pointless! [2] In Spain, Germany, France, Italy, etc if you get a degree in STEM it means you put a lot of effo…

> If everyone can finish University, then having a university title becomes pointless! Certainly the competitive advantage has decreased over time. Having gone through the US university system myself I can confirm that there is... lets say "inflationary pressure", though I've also been at a european university and the same pressure existed there and for all the same reasons. I agree that the university debt seems to…

Exactly. My point is that US "score inflation" seems to be faster than in Europe. Maybe it has something to do with capitalism/socialism (pleasing the student/client), maybe with culture, maybe with language, etc. I don't know why, but it seems that way for me.

Re: Unlike most millennials, Norway's are rich

#38

Post by aamsuzon » Sat, Jul 14, 2018, 9:15 AM UTC

Thanks for being

Re: Unlike most millennials, Norway's are rich

#39

Post by endymi0n » Sat, Jul 14, 2018, 9:15 AM UTC

bernardino wrote: post #24

endymi0n wrote: post #17

Earlier quoted context omitted.

In my not so humble opinion, it all comes down to a short- vs. farsighted culture and the resulting fundamental attitude towards kids. In the US, kids are seen at worst a nuisance and at best a personal luxury. In most of the northern/western EU, kids are seen as the future workers, decision makers and keepers of the whole economy 30 years into the future. All of the symptoms you are seeing, be it maternal / paternal…

> In the US, kids are seen at worst a nuisance and at best a personal luxury. Please, if you may, explain why you think this is so.

I think so mainly because of the near total lack of societal support of bringing them up to be educated, responsible adults with opportunities. If you want to have them, fine. But then, you better be prepared to be able to pay for health care, child care and college. Without maternal / paternal leave, having kids also puts their parents at a financial and career disadvantage to non-parents, so they are indeed a luxury.

Re: Unlike most millennials, Norway's are rich

#40

Post by pcrh » Sat, Jul 14, 2018, 9:17 AM UTC

olavgg wrote: post #16

endymi0n wrote: post #14

Earlier quoted context omitted.

In most cities in western / northern Europe, it's completely impossible by now to get a mortgage for a home remotely large enough for a family, even with two factory drone salaries and even if you pay all of your life.

Not really, the problem is that the average standard in a home is quite high and makes the average housing very expensive.

The major expense in home purchase is the purchase of the land, not construction. So rising construction standards are not the prime drivers behind current high prices.